Putin launches Iron Ozone 32

Head of the Russian Federation Government Vladimir Putin took part in the launch of ZAO ChTPZ Group’s new investment project Iron Ozone 32, a steel-smelting facility. The solemn launching ceremony included making a pilot batch of steel on the new department’s arc furnace.

The implementation of the regional metallurgical industry’s largest project since the outbreak of the recession was made possible due to state support. In 2008, ChTPZ Group was placed on the list of Russia’s core enterprises; in 2009, Sberbank offered the company an eight-billion-ruble loan to complete the new department. All in all, ChTPZ Group invested 19 billion RUR in its Iron Ozone 32 project.